Week’s Top Stories: November 14 – 20, 2020

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Why 2020 Has Made the Ever-Evolving Cyber Landscape Even More Dynamic: The insurability of systemic cyber risk will be one of the defining issues of the next decade for the (re)insurance sector. Rapid technological changes and digitalization in particular have already transformed the characteristics of risks assumed by the (re)insurance market. As companies depend more on technology to conduct business, they are also increasingly subject to technology’s unique vulnerabilities. These are wide-ranging and can include system or supply chain disruption or failures, distributed denial of service, hacking and ransomware attacks that may result in increased costs and lost revenue.Read the article >>

Clarity Over Coverage is Critical as COVID-19 Casts a Shadow over January Renewals: Reinsurance renewal negotiations are delicately poised, with increasing pressure on rates, economic uncertainty and disputes over COVID-19 wordings putting long-standing relationships to the test.
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Category 5 Hurricane Iota to Render Catastrophic Winds, Storm Surge & Rainfall to Central America: Exceeding even the most aggressive forecasts from Friday, Iota became the strongest and most rapidly intensifying hurricane of the 2020 Atlantic hurricane season. Deepening an incredible 61 mb in 24 hours, Iota was declared a category-5 hurricane with maximum sustained winds of 160 mph as of 10AM …

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